Global Photo Printing And Merchandise Market Is Estimated To Witness High Growth Owing To Increasing Usage Of Mobile Devices And Rising Demand For 3D Prints And Images

 

Photo Printing And Merchandise Market

Overview:

Photo printing and merchandise is the process of printing photos on different products such as photo mugs, photo books, cards, t-shirts, frames for wall decor, calendars, puzzles, photo albums, and banners. The products can be customized as per the customer’s requirement and are manufactured using dye sublimation technology, which allows for a high-resolution image to be produced. Digital printing is expected to hold the largest share of the global photo printing and merchandise market during the forecast period. This segment is expected to gain a significant market share due to the increasing adoption of digital photography and printing techniques, the growing popularity of lenticular printing, and increasing penetration of the internet. The growing use of smartphones and tablets for taking pictures has also led to an increase in the number of products that are offered by photo printing and merchandise vendors.

Market Dynamics:

Growing business expansion by key players is estimated to augment growth of the global photo printing and merchandise market during the forecast period. For instance, Card factory opened a second store in May 2020, in North Wales. This will help the company in improving their market presence and product expansion. Moreover, increasing cost of installation and maintenance are anticipated to restrain growth of the global photo printing and merchandise market during the forecast period.

Impact of COVID-19:

 The pandemic was first reported in 2019 in Wuhan. This viral outbreak led to shutting down the entire country. China had to impose strict restrictions for preventing the spread of the virus. Soon enough this outbreak was transmitted to other nations globally. Almost all countries had to impose nationwide lockdowns for the safety of their population. These lockdowns hampered businesses and the global economy was disturbed. All retail stores, manufacturing units were shut down. There was a shortage of skilled professionals and raw materials. People were forced to stay indoors so as to avoid getting transmitted. This hindered the growth of the global photo printing and merchandise market. However, in the post-pandemic era the market is estimated to witness growth as all businesses have reopened and there has bene an increase in demand for personalized merchandise.

Key Takeaways:    

 

The global photo printing and merchandise market is expected to witness robust growth, exhibiting CAGR of 2.6 % over the forecast period, due to growing collaborations among key players. For instance, in May 2020, Leica Locations and Whitewall declared their partnership. This collaboration will help in improving the company’s market visibility and make products more accessible.

 

North America is anticipated to witness robust growth in the global photo printing and merchandise market during the forecast period, due to increasing number of companies and different product offerings.

 

Key players active in the global photo printing and merchandise market are Walgreen Co., Bay Photo Lab, Digitalab, Printique LLC, Shutterfly Inc., WhiteWall, Smartphoto Group, Cardfactory, Nations Photolab, HALLMARK LICENSING, LLC, RitzPix, Kodak Alaris Inc., MILLER'S PROFESSIONAL IMAGING, Cimpress, JONDO Ltd, and District Photo, Inc.